#20Delaware

7.30 out of 10 in Taxation and Regulation

8.50 out of 10 in Workforce Quality

7.78 out of 10 in Living Environment

Leveraging Public-Private Partnerships

The state is striving to pull its economy from slow growth through innovation, entrepreneurship and public-private initiatives. The University of Delaware recently received a $250 million grant from the Department of Commerce and other entities to house the National Institute for Innovation in Manufacturing Biopharmaceuticals. State officials say it could help spur biopharmaceutical manufacturing in the state. JPMorgan Chase also recently opened its Global Technology Hub in Wilmington.

From the Governor

“Alongside Mayor Purzycki, we’re working hard to invest in infrastructure in our city, which will help create jobs, improve travel and spur economic development.” —Gov. John Carney

Key Incentives

New Economy Jobs Tax Credit: Provides a value calculated against a portion of total payroll for companies that contribute high-paying jobs to the state economy.

Blue Collar Job Act: Offers credits against corporate or personal income taxes, gross receipts tax and public utility tax for businesses that hire five or more employees, invest at least $200,000 and operate in a qualified facility.

Delaware New Jobs Infrastructure Fund: Offers economic assistance for renovation, construction or any other improvements to roads, utilities or infrastructure to attract new business to Delaware.

EDCs

Delaware Economic Development Office: dedo.delaware.gov

Wilmington Economic Development Corp.: wedco.org

Delawareans for Environmental & Economic Development: deedworks.org

Highlighted Program or Initiative

Delaware STEM Council aims to grow the number of students, especially women and minorities, in the state who pursue degrees and careers in STEM fields.

Big Deals

JPMorgan Chase announced in October 2015 it would be expanding its workforce in Delaware by bringing in an additional 1,800 employees to the Wilmington area.

After the merger of Dow and DuPont in December 2016, DowDupont announced it would headquarter its agriculture company and specialty product business in Wilmington.

Del Monte Fresh Produce announced in spring 2017 that it would place its newest and most advanced distribution center in Newark.

Sallie Mae announced in August 2017 it would grow its presence in New Castle by nearly 200 employees.

“Since choosing to open our labs in Delaware more than 10 years ago, Incyte has achieved many milestones, and we appreciate the ongoing encouragement of state officials, the technology-friendly environment and tremendous local talent.” —Paul A. Friedman, former CEO, Incyte

“We are eager to draw again from this talented local workforce as we continue to grow the business.” —Raymond J. Quinlan, CEO, Sallie Mae

CEO CONFIDENCE INDEX

Chief Executive’s most recent reading of CEO confidence in future business conditions slipped from 7 out of 10 in October to 6.9 in November. It was a new low for 2018 as business leaders begin to prepare for a possible downturn ahead.

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